20 December 2015

Chinese Growth Has Done Wonders For Humanity

[A]ccording to Chen and Ravallion, between 1981 and 2005, 98 percent (yes, ninety-eight percent) of reduction of global poverty, calculated using the poverty line $1 per person per day, was due to China.

Chinese exports have also arguably made a lot of people elsewhere, such as people in the United States, less poor by reducing the price of consumer goods in a manner having nothing to do with monetary policy.